REI Lense

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$2,375 (target)

24720 Kings Pointe Dr, Novi, MI 48375

3 beds • 2 baths • 1787 sqft

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This property looks like a bad Long-Term investment with a projected -7.37% first-year return on $75,600 initial cash invested.

-7.37%

Cash On Cash

4.97%

Cap Rate

0.81

DSCR

$2,375

Rent

-$464

Cashflow

$28,560

Annual

$2,400

Median

$2,354

Avg

25

Samples

Rent insights and distributions

Cash Flow

$2,375 income − $2,839 expenses = $464 out of pocket

Income$2,375Out of Pocket$464Mortgage P&I$1,83577%Property Taxes$25511%Insurance$1265%HOA$5Management$23810%CapEx$1195%Vacancy$1426%Maintenance$1195%

Investment Breakdown

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Purchase Price

$360k

Downpayment

20.0%

Interest Rate

6.6%

Mortgage Duration

30yr.

Cash To Invest

Total

$75,600

Downpayment

20%

$72,000

Closing costs

1%

$3,600

Rehab

0%

$0

Furnishing

0%

$0

Cashflow

Total Income

$2,375

Total Expenses

$2,839

Mortgage P&I

77%

$1,835

Property Taxes

11%

$255

Home Insurance

5%

$126

HOA

0%

$5

Property Management

10%

$238

CapEx

5%

$119

Vacancy

6%

$142

Maintenance

5%

$119

Other

0%

$0

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